Cyprus Business News

The Cypriot economy maintained its strong momentum in the first quarter of 2023, with the GDP showing a growth rate of 3.4 per cent on an annual basis. However, there are signs ...

The Bank of Cyprus has prepared a proposal aimed at reducing lending rates, which has been submitted to the Central Bank of Cyprus, according to the group’s CEO Panicos ...

Banks need to take immediate measures to address climate change, said the Governor of the Central Bank of Cyprus (CBC) Constantinos Herodotou, during a conference on climate change held on ...

The Bank of Cyprus on Tuesday announced that it generated a €95 million after-tax profit for the first quarter of 2023, a significant improvement over the corresponding period of 2022, when it recorded ...

The financial markets are playing a critical role in the transition towards a more sustainable and socially responsible future, primarily due to the issuance of sustainability bonds and green bonds, ...

PwC Cyprus, a strategic partner of Junior Achievement, on Monday released a statement about its pivotal role in the successful execution of the “Company Programme” and “Our Community” initiatives. The ...

There was a 12.7 per cent decrease in the issuance of new building permits in Cyprus during the first two months of 2023, according to data released by the Cyprus Statistical Service (...

Eurobank Cyprus on Monday announced a reduction of 0.50 per cent in mortgage interest rates with variable interest rates for borrowers who are up-to-date with their loan repayments. The bank stated ...

Below are the top business stories from Cyprus from the week starting May 8: The Deputy Minister of Shipping, Marina Hadjimanoli, emphasised the importance of competitiveness, resilience, and anticipation of new ...

The Bank of Cyprus on Friday announced that it is now offering a 25-year fixed interest rate for its mortgage customers. According to the statement, this new option aims to ...

The first quarter of 2023 brought with it a sharp increase in Cyprus’ trade deficit, with imports rising significantly compared to the same period in 2022, according to a report released this ...

The Deputy Minister of Shipping, Marina Hadjimanoli, emphasised the importance of competitiveness, resilience, and anticipation of new trends and challenges in the shipping industry. Hadjimanoli’s comments were made during ...

The Cyprus Chamber of Commerce and Industry (Keve) and the Turkish Cypriot Chamber of Commerce (Ktto) support all efforts aimed at the bilateral improvement of Green Line trade. Both chambers ...

National flag carrier Cyprus Airways on Friday announced a significant increase in its passenger volume for April 2023, providing further evidence of the travel industry’s ongoing recovery from the dire ...

In times of crisis, identifying and taking advantage of opportunities is crucial for economic growth, the president of the Cyprus Investment Funds Association (CIFA), Andreas Yiasemides, said on Thursday. Yiasemides ...

The governor of the Central Bank of Cyprus, Constantinos Herodotou, expressed optimism that with appropriate actions, prudence, and rationality, the country’s economy and banking system can successfully manage the ...

The Cyprus Statistical Service (Cystat) this week reported a significant increase in the weight of products transported by road within Cyprus, as well as to and from Cyprus, in 2022. The ...

The employees of two Cypriot firms which were recently sanctioned by the UK, on Thursday sent an open letter decrying the effects that the freezing of these companies’ accounts has ...

PwC Cyprus on Wednesday announced that it once again recognised the excellence of its trainee accountants, rewarding their significant distinctions in international exams by the Association of Chartered Certified Accountants (...

Hellenic Bank on Wednesday released a statement summarising its presence at the annual Nicosia Economic Congress, which took place the day before, including its strategy and plans for the future. ...

Alpha Bank Cyprus on Tuesday announced a new deposit interest rate for private accounts over €50,000 that reaches up to 2.10 per cent. In their official announcement, the bank stated that private ...

The Research and Innovation Foundation’s (IDEK) Central Knowledge Transfer Office (CKTO) this week announced that it has started officially accepting applications from interested parties. “We encourage everyone who has ...

Tourism revenue for February increased by 42.9 per cent over last year, the island’s statistics department (Cystat) said on Tuesday. Revenue from tourism reached €56.6 million in February 2023 compared to €39.6 mn ...

President Nikos Christodoulides on Tuesday addressed the Cyprus Shipping Chamber’s annual general meeting, praising the association for its efforts in boosting the local maritime sector, and consequently elevating the ...